Voya Investment Management LLC Boosts Stock Position in AeroVironment, Inc. (NASDAQ:AVAV)

Voya Investment Management LLC raised its position in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 1,159.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 140,598 shares of the aerospace company’s stock after buying an additional 129,431 shares during the period. Voya Investment Management LLC’s holdings in AeroVironment were worth $21,637,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AVAV. Raymond James Financial Inc. bought a new position in shares of AeroVironment during the 4th quarter worth approximately $46,789,000. Norges Bank acquired a new position in shares of AeroVironment during the fourth quarter worth $37,502,000. Baillie Gifford & Co. lifted its holdings in shares of AeroVironment by 9.4% during the 4th quarter. Baillie Gifford & Co. now owns 2,135,280 shares of the aerospace company’s stock valued at $328,598,000 after purchasing an additional 183,887 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of AeroVironment by 415.7% during the 4th quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company’s stock valued at $30,620,000 after purchasing an additional 160,390 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its position in shares of AeroVironment by 40.0% in the 4th quarter. Stephens Investment Management Group LLC now owns 541,541 shares of the aerospace company’s stock worth $83,338,000 after purchasing an additional 154,703 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on AVAV. Raymond James upgraded AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price target for the company in a research note on Tuesday, April 8th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. Robert W. Baird dropped their target price on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group cut their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $202.00.

Insider Activity at AeroVironment

In other AeroVironment news, CEO Wahid Nawabi sold 29,366 shares of AeroVironment stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.27% of the stock is currently owned by insiders.

AeroVironment Stock Performance

Shares of NASDAQ AVAV opened at $149.59 on Friday. The company has a 50 day simple moving average of $135.45 and a two-hundred day simple moving average of $167.67. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 85.97 and a beta of 0.74. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. AeroVironment, Inc. has a 12 month low of $102.25 and a 12 month high of $236.60.

About AeroVironment

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.